Maravai LifeSciences (NASDAQ:MRVI) Downgraded by The Goldman Sachs Group to Neutral

The Goldman Sachs Group lowered shares of Maravai LifeSciences (NASDAQ:MRVI – Get Rating) from a buy rating to a neutral rating in a report issued on Tuesday, The Fly reports.

A number of other brokerages also recently issued reports on MRVI. Credit Suisse Group lowered their price target on Maravai LifeSciences from $23.00 to $18.00 in a research report on Tuesday. Stifel Nicolaus reduced their target price on Maravai LifeSciences from $18.00 to $17.00 in a report on Tuesday. KeyCorp reduced their target price on Maravai LifeSciences from $28.00 to $24.00 and set an overweight rating for the company in a report on Thursday, February 23rd. Morgan Stanley reduced their target price on Maravai LifeSciences from $32.00 to $29.00 and set an overweight rating for the company in a report on Friday, February 24th. Finally, Robert W. Baird reduced their target price on Maravai LifeSciences from $25.00 to $22.00 and set an outperform rating for the company in a report on Thursday, February 23rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $20.20.

Maravai LifeSciences Stock Performance

Shares of MRVI stock opened at $12.09 on Tuesday. The company has a market capitalization of $3.09 billion, a P/E ratio of 7.33 and a beta of -0.23. The business’s 50 day moving average is $14.14 and its two-hundred day moving average is $14.31. The company has a current ratio of 7.70, a quick ratio of 7.31 and a debt-to-equity ratio of 0.58. Maravai LifeSciences has a 12-month low of $11.89 and a 12-month high of $35.82.

Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $79.03 million for the quarter, compared to analysts’ expectations of $79.72 million. Maravai LifeSciences had a return on equity of 57.88% and a net margin of 24.94%. The business’s revenue for the quarter was down 67.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 EPS. Analysts expect that Maravai LifeSciences will post 0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Maravai LifeSciences

Several hedge funds and other institutional investors have recently made changes to their positions in MRVI. Bank of New York Mellon Corp increased its holdings in shares of Maravai LifeSciences by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 416,617 shares of the company’s stock valued at $14,694,000 after purchasing an additional 6,339 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Maravai LifeSciences by 13.6% in the first quarter. Bank of Montreal Can now owns 16,563 shares of the company’s stock valued at $591,000 after purchasing an additional 1,986 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Maravai LifeSciences in the first quarter valued at approximately $250,000. Dimensional Fund Advisors LP increased its stake in Maravai LifeSciences by 534.6% during the first quarter. Dimensional Fund Advisors LP now owns 117,159 shares of the company’s stock worth $4,133,000 after acquiring an additional 98,698 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Maravai LifeSciences by 7.5% during the first quarter. Sei Investments Co. now owns 159,229 shares of the company’s stock worth $5,554,000 after acquiring an additional 11,079 shares during the last quarter. Institutional investors and hedge funds own 48.67% of the company’s stock.

Maravai LifeSciences Company Profile

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Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases in the United States and internationally. The company's products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.